Why Digital Transformation is More Relevant Now Than Ever Before Four Facets of Digital Transformation in Financial Services Many are ready to abandon the term “digital transformation” because they feel that overuse has put it in danger of becoming so genericized that it is meaningless. For example, in a recent article from Fedscoop, Forrester Research is quoted as saying that “the reality is that digital transformation has become so widely misused it’s now synonymous with any technologydriven business improvement.”1 However, any move to write off digital transformation as irrelevant is premature. The term is actually more relevant now than ever before because it brings together two concepts that are central to what is driving change in business today: the marriage of digital technologies with best practices for transformation. Taken together like this, the sum of the two words is greater than the parts.
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